Trump Supports Fed Chairman Kevin Warsh Amid Calls for Lower Interest Rates
President Donald Trump expressed strong support for Federal Reserve Chair Kevin Warsh, calling him 'fantastic,' while criticizing other members of the Fed's Board of Governors as being overly political. During a press session on Air Force One, Trump argued that interest rates should be lowered to help boost U.S. GDP and position America with the lowest global rate, similar to levels seen 30 years ago. Trump accused some Fed officials of having 'bad intentions' for not supporting monetary easing despite persistently high inflation concerns raised by several members, including Dallas Fed President Lorie Logan who recently called for higher rates. The comments came ahead of a scheduled Federal Open Market Committee (FOMC) decision on interest rates, with markets expecting the central bank to maintain its current rate range between 3.5% and 3.75%, where it has remained since late 2025. The Fed's benchmark overnight borrowing rate is currently higher than those of major global peers like Japan (1%) and China (3%), but in line with the Bank of England.
Topics: Federal Reserve Interest Rates Monetary Policy U.S. President